South Africa: Agri SA optimistic that growth rate will improve

Agriculture in South Africa is expected to normalize to a more moderate growth rate in the coming year

Agri SA remains optimistic on the agricultural sector’s contribution to the South African economy, despite a notable statistical decrease of 24,2% in the first quarter of 2018, following an increase of 37,5% in the fourth quarter of 2017.

In the report Statistics South Africa said: Agriculture’s relatively strong performance in 2017 is one of the positive factors that helped keep the economy afloat in 2017. This momentum failed to carry through to 2018, with decreased production contributing to the decline in the first quarter.

“Agri SA expected this decrease in the first quarter, especially in the context of the continued drought and policy uncertainty,” said Dr. Requier Wait, head of the Centre of Excellence for Economics and Trade.

Agri SA expected this decrease in the first quarter, especially in the context of the continued drought and policy uncertainty
Agriculture is expected to normalize to a more moderate growth rate in the coming year.

“On the eve of a further fuel price hike, Agri SA is concerned about the impact it will have on the sector and households,” says Hamlet Hlomendlini, senior economist at Agri SA.

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